MISCELLANEOUS ITEMS

Hokitika Guardian, 19 June 1926, Page 4

MISCELLANEOUS ITEMS

[Australian & N.Z. Cable Association.}

SHARE MARKET. NEW YORK, June 18. Chicago wheat July, 111 J, Septumher Rlfrl. December ITS. NEW YORK. June 10.

An avalanche nl selling orders representing a heavy profit taking large traders swept the slock market just before the close on Friday, carrying scores of issues to nearly nine points I,clow Thursday’s tinal quotations. The total sales are above two millions.

l salutory sentenc e. LEVIN. .June 17

At the Court, to-day. two men. Harold Terry, aged 21. and Havid .M ( omh. aged twenly. pleaded guilty to wrongfolly converting motor-cars to thenown, use. They made a practice of going to private garages at night, taking out cars and running’them about the country. They wore caught in the act by on." owner. The Magistrate sentenced each to seven (hits impiisonmeiit with hard labour on each of three charges, the sentences to he cumulative. Me peremptorily refused a

request for suppression of name.*

ENGINEERING TRADE. PTNEDI. June 17

The position of the engineering tratios in .New Zealand is said not to h" good. The manager of one* of the lending engineering (inns, when asked his opinion, said it is quite true things are had in Dunedin, and have been so for the past twelve months. “Jt means addtioiis to the unemployment list, for local firms have had to put oil men,’' ho continued. “The matter is not so much one that has risen Irom the davs of the gold dredges, lud the fact Ih.ai tin",- were in operation in Otago, and that linns sprang up in Dunedin to supply their wants, lias resulted iti there being many such firms in the til \. To-day they are all reeling the pinch, as we are. Hook at the

-helves of iiliis storeroom. A year or so ago there were crammed with cmrimruiug productions made in New Zealand by our own factory. To-dav lliev are still crammed, hut every shell contains supplies of liriiish and other imported goods.” His summary of the position was that New Zealand firms had neither the machinery nor the market, to enable them to produce such goods at a price that could hope to compete with imported articles, manufactured on a mass production basis in British and Continental factories. He referred to such goods as taps, brass joints, and hundreds of similar engineering fittings. They can he imported for one half and in some eases one third the present eo-i of manufacture in New Zealand. He observed. “What can a Dominion firm do in the face of competition of that natnno ? Machinery in New Zealand is obsolete in the majority of eases, and in any ease is up against mass production. Take the plumber block, for supporting overhead shafting. .Supposing it eosls Ins to manufacture one here. Well, wo can import one for almost half that amount, less, lar Vrss, than our manufacturing cost and still make a handsome O IT) fit.”